During security research in April 2019, I have discovered that the common OLED SSD1306-like displays used in many cryptocurrency hardware wallets and other embedded devices are leaking information about the display contents towards the USB interface from which the device is powered. This represents an interesting side channel that had so far not been discovered by other vendors and researchers.


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Technical background

Illuminating the OLED pixels takes a comparably large amount of current per pixel and this type of display illuminates pixels on a line-by-line basis. As a result, there is a strong electrical side channel for the display contents through the current fluctuations on the USB power line that can be measured without hardware modifications to the device itself.

Here is a graphical representation of the effect on an unmodified KeepKey, traced over 2½ display cycles:

KeepKey device and oscilloscope trace with corresponding OLED screen overlay
KeepKey device and oscilloscope trace with corresponding OLED screen overlay

Security implications, attack scenario, mitigations

The side channel is relevant since the security design of this class of devices is built to some degree on the assumption that the display contents are readable by the user, but unreadable to other involved electronics. If this confidentiality assumption does not hold in practice, there is the possibility that malicious equipment is able to recover significant portions of PIN codes or BIP39 mnemonic words.

Many of the relevant technical aspects and implications are described in the Trezor blog article on the issue that I have co-written.

I will present more details and attack scenario considerations via additions to this post and later articles.

Practical impact

Power analysis shows this correlation on the BIP39 secret word display of the Trezor One.

weird (yellow) vs. cram (orange):

weird (yellow) vs. zoo (orange):

century (yellow) vs. cram (orange):

Disclosure Coordination

From April to August 2019, I’ve analyzed a number of devices for their susceptibility to this attack and responsibly disclosed the issue to the affected vendors. Coordinating the disclosure of a hardware vulnerability among multiple competing vendors is not a straightforward process and there were a number of challenges along the way. I may write about them at some point in the future.


I initially requested a CVE ID from MITRE in July.

Due to CVE Numbering Authority rules, the vulnerability was split into individual CVEs on a per-vendor basis:

CVE product notes vendor reference
CVE-2019-14353 SatoshiLabs Trezor One   article
CVE-2019-14354 Ledger Nano S, Ledger Nano X   article
CVE-2019-14355 ShapeShift KeepKey   article
CVE-2019-14356 Coldcard MK1, Coldcard MK2   article
CVE-2019-14357 Mooltipass Mini   article
CVE-2019-14358 Archos Safe-T   -
CVE-2019-14359 REAL Security BC Vault One minor security impact due to lack of secrets on the screen article
CVE-2019-14360 Hyundai-Pay Kasse HK-1000   -
CVE-2019-18673 Shift Cryptosecurity BitBox02   reference

Other products

There are at least two additional products that may be affected in some form, but the vendors have not shown any interest in the issue.

Detailed timeline

Date info
2019-04-08 Information leak first discovered during Trezor One research
2019-04-08 Initial disclosure to SatoshiLabs
2019-04-29 Received KeepKey hardware
2019-05-02 Initial disclosure to ShapeShift (KeepKey)
2019-05-04 First communication attempt with Archos
2019-05-07 Initial disclosure to Ledger for Nano S, reference to Nano X
2019-05-08 Initial disclosure to Mooltipass
2019-05-08 Initial disclosure to Coinkite
2019-05-09 Initial disclosure to REAL Security
2019-05-12 First communication attempt with Hyundai-Pay
2019-05-15 Ledger informed of initial Nano X results
2019-05-29 Ledger requests 90 days embargo (starting from early May)
2019-07-23 CVE assignment requested
2019-07-28 CVEs assigned by MITRE
2019-08-07 12:00h CEST End of the coordinated embargo date, public disclosure

This list is incomplete and will be extended.

Bug bounty

SatoshiLabs and Ledger have provided a bug bounty.

In 2021, ShapeShift has retroactively decided to award a bug bounty for this issue as well.



During this research, I have received a test device from the following vendors:

  • 1x Nano X from Ledger
  • 1x BC Vault from REAL Security
  • 1x Mooltipass from Stephan Electronics
  • 1x BitBox02 from Shift Cryptosecurity

This was done mainly to speed up the analysis on devices with slow shipping or difficult availability.

Relevant hardware gifts from previous research:

  • SatoshiLabs - multiple Trezor One devices
  • ShapeShift - 3x KeepKey devices (part of a previous bug bounty)